SHOCKA: Obama Signs Executive Order Authorizing Even More Wealth Redistribution

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Lindsey Burke:

President Barack Obama signed an executive order today expanding “Pay-As-You-Earn,” the already generous repayment option available to students with federal loans that factors in their current income when calculating their monthly student loan payments.

Before 2014, students had access to a plan that capped monthly loan payments at 15 percent of a student’s discretionary income—defined as “the adjusted gross income minus the federal poverty line that corresponds to your family size and the state in which you reside”—with any remaining balance being forgiven after 25 years, or 10 years for those working in “public service.”

Not content with that generous option, the Obama administration issued regulations last November that created the new Pay- As- You- Earn plan, which caps what students can be required to pay to just 10 percent of discretionary income. Under the new Pay- As- You- Earn program, loan forgiveness begins after just 20 years—not 25—and the 10- year forgiveness for government workers and those working in public service still applies.

The pending executive order will extend Pay- As- You- Earn to an additional 5 million borrowers. The option currently is open only to students who took out loans after 2007, but the White House will extend the option to all borrowers who meet income eligibility.

According to Politico:

“For a 2009 college graduate earning $39,000 a year but carrying $26,500 in loan debt, the plan, which is expected to be in place by December 2015, would reduce monthly repayments by $126 per month and $1,500 a year compared to the standard repayment plan, the White House said”

As the Wall Street Journal reported:

“The number of borrowers in the income-based repayment programs climbed 24 percent from January through March to 1.63 million, the Education Department recently said. The amount of debt covered by the programs grew 22 percent during that period to $88 billion—nearly a tenth of all outstanding federal student debt.”

Repayment caps such as those offered through income-based repayment and other policies put no downward pressure on college prices. After all, why should colleges reduce tuition rates if the government keeps increasing student-loan subsidies? Making income-based repayment options even more generous will continue to enable universities to raise tuition and fees, confident that students will have access to a deep well of federal loans and grants, which will be paid-off through IBR and loan forgiveness on the backs of the taxpayers.

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Many of these students have no intention of paying back any of their student loans.
Remember what a huge part of the OWS movement they were?

As is standard with all issues dealt with by Democrats, the answer is to throw more money at it. Don’t address the problem of high tuition rates caused by such practices as paying professors $200K/year while they spend as little as four hours a week in a class room. These professors simply want the money that comes from funded research studies which have a rate of around 95% that are never published.

And what ever happened to working your way through college? It used to be that students got summer jobs after their junior and senior high school years to save up for their college costs (oh, that’s right; teens can’t get jobs under Obama). Or working during the summer months while in college to cover the costs? Instead, we see out of control little darlings partying during spring break, all on their parent’s credit card.

We have raised a generation of slackers that think they are entitled to everything while having to do nothing. so they go to some tony university getting a degree in such stupid stuff as women’s studies and Nigerian basket weaving, which does nothing to prepare them for the real world of adulthood.

If a kid can’t afford to go to a university, they should work a couple of years first, saving up the money and learning to appreciate what it takes to pay for that education. Or they should go to a trade school. What is wrong with doing their first two years at a community college where credits are transferable to a four year institution?

When everyone has a college degree it will become meaningless and they will be envying their friends who decide to be plumbers and electricians that are earning $100K/yr. and not neck deep in debt.

What this is, is crony capitalism to enrich the administration’s higher learning cohorts. The problem is not the availability of student loans, but the obscene profiteering of colleges and universities who have for decades been gouging students, with ever increasing tuition and education costs that rise at grossly unreasonable inflated rates that far bypasses yearly inflation and cost of living percentages. It’s time that Congress examine these tenured, greedy leeches on the student body, and begin regulating higher learning establishments in a manner comparable to other business. Given the 501 (c) status of many of these establishments, perhaps their officers and professor’s political activities and proselytizing should also be investigated to see if they are in adherence with the laws limiting non-profit organizations.

Most of the recent college grads are losers. Graduate degrees in drinking, partying, working out, hanging- out laden the list of degree programs. College is the holding tank for the future unemployed. Redefining the loans just signed up more leftists.
The psychopath with his pen, phone and golf club has buried this country. The next executive move will be to set up bankruptcy offices on every campus and have student file for bankruptcy when they file for their degree. College will be free and a new tax-the college tax will be installed by this idiot and the socialists in this country.

Most of the recent college grads are losers. Graduate degrees in drinking, partying, working out, hanging- out laden the list of degree programs. College is the holding tank for the future unemployed. Redefining the loans just signed up more leftists.

Yep, many of these 22-29 year old brats have never worked an income tax paying job in their lives. Yet, these private sector/corporate hating parasites truly believe that they have all the answers to life; ever more handouts from their power grabbing and personal freedom banning nanny state governments.

And to top it off, a significant number of these lazy brats are functionally illiterate in any language. But, thanks to our loser public schools, they’re passed on from grade level to grade level even tho they can hardly read or write. These losers do, however, know how to recognize and check the box next to the “Ds” and/or “R”(inos) on a ballot (oh, and how to blow hundreds of dollars a month smart phoning meaningless drivel to their loser friends).

Then there’s the bottom line with all of this; our politicians and governments are buying the votes and “blind” allegiance of these losers with our tax dollars. Dem or RinoGop, it doesn’t matter. They’re one and the same (i.e. global elitists bent on forming a New World Order that places themselves far above the “common” people).

THE FUTURE IS BLEAK, FOR THOSE YOUNGS,
according with the curiculum they are following force to follow,
but one teacher one day said : there is no room to add the PLEDGE OF ALLEGIANCE TO THEIR SCHOOLS,
EVEN TO HAVE AN AMERICAN FLAG ON THEIR WALLS, AND DEFINITELY NO PRAYER TO GOD,
RECITED AT ANY TIME,
well, hum, how about introducing a new addition that all the schools would be mandated to give,
and by THE MILITARY, A TRAINING LIKE THEY HAD TO PASS FOR BECOMING REAL SOLDIERS,
DISCIPLINE ON ALL NEEDED SKILLS THE YOUNG WOULD HAVE TO LEARN AS A MUST TO PASS ALL THE OTHER SCHOOL TEACHING ,
THAT WOULD BRING THE STUDENT TO BE RESPONSIBLE AND ALERT AND BRING THEIR JUDGEMENTS TO A SUPERIOR LEVEL THAN MOST OF THEM FAIL NOW BECAUSE OF THEIR DEPENDANCE ON OTHER
WHO EVER THEY ARE BRING WRONG INFLUENCES TO CONFUSE THE YOUNGS AND MAKE THEM LOCK INTO THEIR FALSE TEACHING, OF REALITY,
as we see OBAMA STILL BRAINS STRUCK BY HIS INFLUENCE,
making him unable to make a just decision that is good for
ALL THE PEOPLE, his upbrigning taught him to do the oposit to sound decisions, which is ANTI AMERICA,
FOR EXAMPLE, THE FLOW OF MULTI THOUSANDS OF CHILDREN,
COMMING FROM THE BORDERS, WHICH HE THINK IT’S OKAY,
AND KEEP SENDING THE MESSAGE OF WANTING MORE TO
OTHER COUNTRIES, THAT IS A CATACLISM FOR AMERICA,
SUBMERGE BY IT, UNABLE TO STOP IT,
YES THE FUTUR IS BLEAK FOR ALL AMERICANS,
THERE IS A NUMBER FLOATING OF A HUNDRED THOUSANDS
MORE COMING,
WAKE UP AMERICA, THEY SLEEP ON THE FLOOR AND MISS THEIR FAMILY ALREADY,
IT’S TIME TO AMERICANS TO PROTECT THE LAND, AND THE LANDS OF THIS USA, WHICH THE GOVERNMENT IS TAKING AWAY FROM YOU, A CHUNK AT THE TIME,
USING ANY MEANS THEY CAN THINK OFF,